Medley Capital (NYSE:MCC) falls 5.9% after NexPoint Advisors and a group of affiliates files a proxy statement, seeking to elect two independent directors to Medley Capital's board at Medley's annual meeting on June 4.
"Additional, meaningful changes to the composition of the Board are necessary to ensure the Company is being run in a manner consistent with stockholders' best interests," NexPoint said in a statement.
While NexPoint is seeking to become Medley's external investment advisers, it says its nominees are unaffiliated with any members of the NexPoint Group and "will act solely in the best interests of all MCC stockholders."
NexPoint nominates Mark T. Goglia and Stephen A. Mongillo.
Related ticker: MDLY
Previously: Another delay for Medley Capital, Medley Management meetings (April 18)
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